Canada to return to 2010 calendar

The Canadian Grand Prix has been confirmed on the 2010 F 1 calendar, as the government helped to secure athe event’s future for another five years – until 2014.

After many months of uncertainty, and a year on the sidelines, the race in Montreal was confirmed on Friday afternoon. This deal to secure the place on the calendar has been assisted by the Canadian and Quebec governments, Montreal and Tourisme Montreal, who have created an annual £8.5m investment plan for the next five years.

Under the terms of the agreement, Montreal and its partners will 30% of the profits from ticket sales for the Grands Prix, which will be taking place on June 13th next year.

Montreal’s mayor Gerald Tremblay was delighted, saying: “The return of the Formula 1 to Montreal attests to our sustained efforts and determination. This win-win deal falls in line with the terms we set and the taxpayer’s ability to pay and will create stability for the next five years. I am very pleased that our metropolis is bringing back this crucial stage in the Formula 1 series for fans from around the world and an outstanding opportunity in terms of the event’s international reach.”

Quebec’s minister for finance and minister for the Montreal region, Raymond Bachand, said: “For Quebec, this event by itself results in annual tax revenues of more than $10 million (£5.5 million), for a $4 million (£2.2 million) investment, minus revenues from ticket sales. All three levels of government have worked together tirelessly over the past few months to bring the grand prix back to Montreal, while acting in a financially responsible manner. With this agreement in hand, I am delighted that our efforts have finally succeeded.”